web analytics
November 25, 2015 / 13 Kislev, 5776
At a Glance
News & Views
Sponsored Post

American CEO of Teva Quits; Stock Plunges

JewishPress Logo

Jeremy Levin, who moved to Israel from the United States 18 months ago to take the helm of Teva Pharmaceuticals, quit his post on Wednesday, sending the company’s stock down more than 7 percent in trading on NASDAQ in early trading.

“Since Levin’s arrival, the board of directors and management saw eye-to-eye in drawing up the strategic plan,” Teva chairman Phillip Frost said in a conference call. Frost, who lives in the United States, is Teva’s largest individual shareholder. “We have decided that it would be better to part ways,” Frost added.

Levin was chosen amid  internal controversy to replace former IDF officer Shlomo Yanai, who stepped down after five years in which Teva became a Wall Street star, with its stock reaching $65 a share before dropping after competitors won a lawsuit allowing them to market a generic alternative to Teva’ flagship Copaxone drug.

About the Author: JewishPress.com brings you the latest in Jewish news from around the world. Stay up to date by following up on Facebook and Twitter. Do you have something noteworthy to report? Submit your news story to us here.

If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

One Response to “American CEO of Teva Quits; Stock Plunges”

  1. As my ex used to say, ” If the Jews leave, there goes the money…..”

Comments are closed.

Current Top Story
U.S. President Barack Obama. Nov. 25, 2015.
Obama Assures Frightened Americans No Current Security Threat

Printed from: http://www.jewishpress.com/news/breaking-news/american-ceo-of-teva-quits-stock-plunges/2013/10/30/

Scan this QR code to visit this page online: